Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Target Price at $41.63

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has received an average rating of "Reduce" from the eight analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $41.63.

NBR has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada cut their price target on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Susquehanna raised their price target on shares of Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Barclays reiterated an "underweight" rating and set a $28.00 price objective (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Finally, Morgan Stanley cut their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, May 16th.

Nabors Industries Stock Down 4.3%

Shares of NYSE:NBR traded down $1.37 during trading hours on Friday, hitting $30.22. The company's stock had a trading volume of 372,522 shares, compared to its average volume of 405,945. The company has a debt-to-equity ratio of 4.13, a current ratio of 1.80 and a quick ratio of 1.62. The firm's fifty day moving average price is $30.41 and its 200 day moving average price is $39.53. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $105.96. The company has a market capitalization of $474.44 million, a price-to-earnings ratio of -1.93 and a beta of 1.52.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing analysts' consensus estimates of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. The company had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. During the same period in the previous year, the business earned ($4.54) EPS. Nabors Industries's revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts expect that Nabors Industries will post -6.22 EPS for the current year.

Institutional Trading of Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new stake in shares of Nabors Industries during the fourth quarter worth about $664,000. Amundi boosted its holdings in Nabors Industries by 192.8% in the 4th quarter. Amundi now owns 7,115 shares of the oil and gas company's stock worth $443,000 after buying an additional 4,685 shares during the last quarter. HighTower Advisors LLC increased its stake in Nabors Industries by 152.8% during the 4th quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company's stock worth $1,585,000 after buying an additional 16,761 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Nabors Industries by 12.0% during the fourth quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock valued at $16,340,000 after acquiring an additional 30,537 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Nabors Industries during the fourth quarter valued at approximately $97,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.